Four multi-family houses with luxury apartments will be built in the next two years.
The construction work on the Roetel can begin, and the excavators will arrive in the middle of the month. A total of 32 high-quality 3.5- to 5.5-room condominiums will be built in four multi-family houses on the very best hillside location above Zug city over the next two years. This was originally announced for April, but is only now being started.
"We were delayed due to building objections from of the surrounding neighbourhood," explains Sarah Vogler, real estate marketer at Peikert Immobilien Projekte AG. It has been known for a long time that the developers - Peikert Real Estate Projects AG from Zug, Peikert Immobilien AG and Altras Finance AG from Inwil - wanted to build on the two plots above and below the Blasenstrasse. They acquired the properties in 2013.
In addition to the Roethelberg restaurant, four multi-family houses will be built in the next two years.
This is how the condominiums will look
In addition, the Roetel is one of the so-called ‘pearls’ of the city of Zug. However, The city construction head, Eliane Birchmeier explains the details: "The Roetelberg construction project is not part of the ‘Roetelberg Perle’ but will be next to it." An apartment building is being built on the smaller plot of around 3000 m2, which is located directly next to the Roethelberg restaurant. The larger plot above the Blasenbergstrasse covers approximately 8,700 m2, and will provide space for the three additional multi-family houses.
Certain rules apply for construction in the Roetelberg. For example, the two plots of land are covered by a height restriction so that, on the one hand, the view from the St. Verena plateau and, on the other, the view from the terrace of the Roethelberg restaurant towards the south is preserved. The Roetelberg with the restaurant should also be kept as free as possible. Sarah Vogler confirms that the protection of the view played an important role on both plots and in the development "Various regulations" had to be complied with. "Corresponding project changes were made, which were approved by Building Authority," explains Vogler. For example, the attic storey of one of the four houses was planned with only one residential unit, instead of two. Construction Head Eliane Birchmeier provides more information: "The private construction project was examined by the Cityscape Commission several times, which expressed the requirement that the private construction project should be in harmony with the landscape, the public vantage point and the existing housing structure." The city council approved the project on this basis, according to the written reply. This is confirmed by Sarah Vogler: "The two civil law objections were able to be settled and the project is legally approved." The building permit was already granted in the spring of 2018.
The registered prospective buyers were contacted about a year ago. "We officially started marketing at the end of January this year," adds Vogler. The apartments are priced in the upper segment. "Depending on general view and the view of the lake, that will be between CHF 16,000 and CHF 32,000 per square meter," says the real estate marketer. And the demand is high. "Sales to date already cover more than 40 percent of the total investment costs," says Vogler. The construction of the four apartment buildings will begin in the middle of October. They will be created during a single construction phase and will be ready for occupancy from autumn 2021 until spring 2022.